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horngrens accounting managerial

Questions and Answers of Horngrens Accounting managerial

Colgate-Palmolive Company operates two product segments. Go to the company Web site (http://www.colgatepalmolive.com), and then click on the “For Investors” link.From there, go to the SEC filings
Chemex (Singapore) Pte. Ltd. (CS), a manufacturer of specialty chemicals, is the Singapore subsidiary of a large multi-national company. Product quality and innovations are critical to CS’s
A cost that is relevant to a particular decision because it is a future cost and differs among alternatives is calleda. contingency cost.b. relevant cost.c. irrelevant cost.d. sunk cost.
Which of the following is a cost that was incurred in the past and cannot be changed regardless of which future action is taken?a. Irrelevant costb. Sunk costc. Hidden costd. Relevant cost
Which of the following best describes a method that looks at how operating income would differ under each decision alternative that leaves out irrelevant information?a. Differential analysisb.
Which of the following is not a short-term special business decision?a. Regular and special pricingb. Dropping unprofitable products and segmentsc. Outsourcing and further processingd. Analysis of
Which of the following refers to the full cost to develop, produce, and deliver a product or service?a. Target pricingb. Target full product costc. Cost-plus pricingd. Price-taker
Which of the following refers to a company that has control over the prices of its products and services because its products and services are unique and there is little competition?a. Price-takerb.
The fixed cost that will continue to exist even after a product is dropped is often calleda. Real fixed cost.b. Rigid fixed cost.c. Unavoidable fixed cost.d. Permanent fixed cost.
A factor that restricts production or sale of a product is termeda. unavoidable.b. a constraint.c. a restriction.d. a curb.
A cost of a production process that yields multiple products can be described best asa. a joint cost.b. an opportunity cost.c. a sunk cost.d. a direct cost.
Which of the following is not true about outsourcing?a. It is also called make-or-buy decision.b. The company must consider variable costs compared to the outsourcing costs.c. The company must
What is relevant information and relevant cost? Give an example for each of them.
Briefly define price-setters.
Briefly define price-takers.
There are several kinds of short-term special decisions. Explain this statement.
Give three criteria for price-taker companies.
What are the criteria for price-setter companies?
How is cost-plus pricing calculated?
Briefly explain two rules of outsourcing.
In which situations should managers process further rather than selling the product?
What questions should managers answer when considering special pricing orders?
Suppose Italian Eatery restaurant is considering whether to (1) bake bread for its restaurant in-house or (2) buy the bread from a local bakery. The chef estimates that variable costs of making each
Al Ahlia manufactures books. The company is trying to decide whether to print the individual pages in-house (the current practice) or have a printing company perform this task. For each of the
Manal Company requires three units of P1 for every unit of A15 that it produces.Currently, P1 is made by Manal, with the following per unit costs in a month when 4,000 units were produced:Variable
Paul Company has three product lines in its retail stores: books, videos, and music.The allocated fixed costs are based on units sold and are unavoidable. Demand of individual products is not
Daouk Chemical Corporation produces an oil-based chemical product which it sells to paint manufacturers. In 2014, the company incurred costs of $344,000 to produce 40,000 gallons of the chemical. The
Which of the following refers to a process of planning to invest in long-term assets in a way that is most profitable for the company?a. Capital investmentb. Capital budgetingc. Capital assetd.
Which of the following is a capital investment analysis method that measures the length of time it takes to recover the cost of the initial investment?a. Paybackb. Drawbackc. Accounting rate of
Which of the following is not true for payback?a. It is a capital investment analysis method.b. It depends on whether net cash inflows are equal or different.c. The longer the payback period, the
Which of the following is not a key factor for determining the time value of money?a. Principal amountb. Number of periodsc. Interest rated. Depreciation
Interest calculated only on the principal amount is calleda. annual interest.b. basic interest.c. simple interest.d. compound interest.
The management’s minimum desired rate of return on a capital investment is calleda. discount rate.b. flat rate.c. offer rate.d. complimentary rate.
Which of the following is a capital investment analysis method that measures the net difference between the present value of the investment’s net cash inflows and the investment’s cost?a. Net
The present value of net cash inflows divided by initial investment refers toa. profitability index.b. sensitivity analysis.c. net present value.d. internal rate of return.
Which of the following is not a capital investment analysis method?a. Paybackb. Accounting Rate of Return (ARR)c. Net Present Value (NPV)d. Sensitivity analysis
Which of the following is not true for ARR?a. It focus the effects of investment towards operating income.b. It uses accrual accounting figures.c. It uses time value of money.d. It measures the
How does capital asset differ from capital investment?
List four methods for analyzing potential capital investments.
What are the three factors that time value of money depends upon?
Explain how present value is calculated by illustrating the formula for doing so.
Explain how future value is calculated by illustrating the formula for doing so.
What are the strengths of the payback method?
What is the weakness of the Internal Rate of Return (IRR)?
What is the focus of the Internal Rate of Return (IRR)?
Refer to the Stenback Valley Snow Park Lodge expansion project in Short Exercise S26-4. Compute the payback for the expansion project. Round to one decimal place.Data From Short Exercise
Refer to the Stenback Valley Snow Park Lodge expansion project in Short Exercise S26-4. Calculate the ARR. Round to two decimal places.Data From Short Exercise S26-4:Consider how Stenback Valley Snow
Suppose White Valley is deciding whether to purchase new accounting software. The payback for the $26,565 software package is five years, and the software’s expected life is eight years. White
Your grandfather would like to share some of his fortune with you. He offers to give you money under one of the following scenarios (you get to choose):1. $8,550 per year at the end of each of the
Refer to the Stenback Valley Snow Park Lodge expansion project in Short Exercise S26-4. What is the project’s NPV (round to nearest dollar)? Is the investment attractive? Why or why not?Data From
Refer to Short Exercise S26-4. Assume the expansion has no residual value. What is the project’s NPV (round to nearest dollar)? Is the investment attractive? Why or why not?Data From Short Exercise
Refer to Short Exercise S26-4. Continue to assume that the expansion has no residual value. What is the project’s IRR? Is the investment attractive? Why or why not?Data From Short Exercise
Nancy Company is considering buying a machine for $90,000 with an estimated life of ten years and no salvage value. The straight-line method of depreciation will be used. The machine is expected to
Dabbaneh Corporation is considering the purchase of a piece of equipment that costs $20,000. Managers estimate that this equipment will have a 4-year life and generate net cash inflows of $3,000 the
Refer to the information about Dabaneh Corporation in Exercise E26-19. Assume the project has no residual value. Compute the ARR for the equipment.Data From Exercise E26-19:Dabbaneh Corporation is
A real estate investment has the following expected cash flows:The discount rate is 8%. What is the investment’s present value? Year 1 2 WN 3 4 Cash Flows $ 10,000 25,000 50,000 35,000
Kamal Corporation is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs that it currently isn’t equipped to do.
Use the NPV method to determine whether Farran Company should invest in the following projects:• Project A: Costs $250,000 and offers six annual net cash inflows of $75,000. Farran Company requires
Refer to the data regarding Farran Company in Exercise E26-24. Compute the IRR of each project, and use this information to identify the better investment.Data From Exercise E26-24:Use the NPV method
Back Manufacturing is considering three capital investment proposals. At this time, Back only has funds available to pursue one of the three investments.Which investment should Back pursue at this
You are planning for a very early retirement. You would like to retire at age 40 and have enough money saved to be able to withdraw $215,000 per year for the next 30 years (based on family history,
You are planning for an early retirement. You would like to retire at age 40 and have enough money saved to be able to withdraw $230,000 per year for the next 40 years (based on family history, you
GDM Equipment, Inc. reported the following data for 2016:Compute GDM’s net cash provided by operating activities—indirect method. Income Statement: Net Income Depreciation Expense Balance Sheet:
Horizontal analysis of Liberty’s balance sheet for 2017 would reporta. Cash as 9.50% of total assets.b. a 17% increase in Cash and Cash Equivalents.c. a current ratio of 1.01.d. inventory turnover
Vertical analysis of Liberty’s balance sheet for 2017 would reporta. Cash as 9.50% of total assets.b. inventory turnover of 6 times.c. a current ratio of 1.01.d. a 17% increase in Cash.
Which statement best describes Liberty’s acid-test ratio for 2017?a. Greater than 1b. Equal to 1c. Less than 1d. None of the above
Liberty’s inventory turnover during 2017 was (amounts rounded)a. 6 times.b. 7 times.c. 8 times.d. not determinable from the data given.
Assume all sales are on credit. During 2017, Liberty’s days’ sales in receivables ratio was (amounts rounded)a. 34 days.b. 30 days.c. 32 days.d. 28 days.
Which measure expresses Liberty’s times-interest-earned ratio? (amounts rounded)a. 54.7%b. 19 timesc. 34.5%d. 32 times
In order for an item to be reported in the extraordinary items section of the income statement, it must bea. unusual.b. infrequent.c. unusual or infrequent.d. unusual and infrequent.
What is the purpose of a cost accounting system?
What are the two main types of traditional cost accounting systems?
Briefly explain the job order costing system.
Briefly explain the process costing system.
Define materials requisition.
What are the two factors on which predetermined overhead allocation rate is based?
Explain allocation base. How does it function as a cost driver?
How do overhead costs flow through the job order costing before the period?
How do overhead costs flow through the job order costing during the period?
List the four steps for tracking product costs.
How do service companies use a job order costing system? List two ways they do this.
What happens to the debit and credit column when the cost of completed jobs is transferred from the work-in-process inventory to the finished goods inventory?
What happens to the debit and credit column when the costs of sold jobs are transferred from finished goods inventory to cost of goods sold?
Mountain Packs manufactures backpacks. Its plant records include the following materials-related data:Journalize the entries to record the transactions, post to the Raw Materials Inventory account,
Gray’s Accounting pays Rita Flores $ 51,000 per year. Flores works 1,000 hours per year.Requirements 1. What is the hourly cost to Gray Accounting of employing Flores? Assume a 25-hour week and a
Gray’s Accounting pays Rita Flores $ 95,400 per year. Assume that Gray’s accountants are expected to work a total of 8,000 direct labor hours in 2016. Gray’s estimated total indirect costs are
Norhan Company begins the month of June with $17,000 of work-in-process costs from Job 24. Information from job cost sheets shows the following additional costs assigned during June, July, and August
Bizri Corporation had the following transactions during its first month of operations:Requirement Journalize the above transactions for Bizri Corporation. Purchases of raw materials on account
Nagham Manufacturing is a small manufacturer that uses machine hours as its activity base for assigning overhead costs to jobs. The company estimated the following amounts for 2013 for the company
Jamal Company began operations on July 1, 2013. Information from job cost sheets shows the following:Job 102 was completed in July. Job 100 was completed in August, and Jobs 101 and 103 were
The following information is available for Sophie Company at December 31, 2013:1.2. Debit postings to Work-in-Process Inventory during the year were:3. Sales totaled $315,000 for the
Farid Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Prepare journal entries to record the following transactions during the month of June. June
Analyze the following T-accounts and describe each lettered transaction. (f) Raw Materials Inventory 40,000 25,000 Finished Goods Inventory 140,000 120,000 Factory Labor 110,000 (c) (d) (c) (d) (e)
Manufacturing cost data for Patchi Company, which uses a job order cost system, are presented below:Requirement Indicate the missing amount for each letter. Assume that overhead is applied on the
Martin Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation
Hummingbird Design, Inc. is a Web site design and consulting firm. The firm uses a job order costing system in which each client is a different job. Hummingbird Design assigns direct labor, licensing
Which of the following is the term for one of a series of steps in manufacturing production?a. Flowb. Processc. Seriesd. Diagrams
Which of the following is not true for a process costing system?a. Cost accumulation is by job.b. The cost transfer is at the end of the accounting period.c. It is used by those manufacturing
The cost to convert raw materials into finished goods is calleda. direct costs.b. production costs.c. conversion costs.d. replication costs.
How many units were completed and transferred out?a. 150 unitsb. 1,500 unitsc. 1,350 unitsd. 1,550 units Burton Company uses the weighted-average method in its process costing system.The Packaging

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